Standard Chartered Bank Car Loan Bank Car Loan Key Features – Nov 03 2024
Standard Chartered Bank Car Loan Interest Rate | 7.35% per annum |
Min Loan Amount | ₹ 1,00,000 |
Max Loan Amount (Loan to Value) |
100% of Ex-showroom Price |
Loan Tenure | 12 to 84 months |
Lowest EMI / Lac | ₹ 1,634 |
Minimum Net Monthly Income | ₹ 25,000 |
Minimum ITR for Self Employed | ₹ 4,00,000 |
Age Criteria | Salaried: 21 years – 60 years Self Employed: 21 years – 70years |
Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
Processing Fee | 0.50% or minimum Rs.1500 |
Foreclosure Charges | Nil |
Basic Documentation | ID Proof, Address Proof, Salary Slip and Car Quotation |
About Standard Chartered Bank Car Loan
Standard chartered bank is a Gramin Bank in India established on 02-10-1975. It has headquartered in Moradabad, and its address is Prathama Bhawan, Ram Ganga Vihar Phase-II, Post Box NO. 446, Moradabad-244001. it has 422 branches across the state. Prathama Bank Car Loan Interest Rates, Car Loan at 10.50% Updated on 21 Jan 2021. Apply for Car Loans Online. Find Prathama Bank Car loan purpose, Eligibility, Margin, Repayment of Car Loan, Security, Documents Required.
Advantages of Standard Chartered Bank Car Loan
⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
Standard Chartered Bank Car Loan Eligibility
Salaried Individual |
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Self-Employed Individuals |
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Self-Employed Non-Individuals (Company/Partnership) |
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Priority Customers |
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Standard Chartered Bank Car Loan Interest Rate, Fees, and Charges
Charges | New Car Loan | Used Car Loan |
Interest Rate | 7.35% per annum |
14.80% p.a. to 16.80% p.a. |
Processing fee | 0.50%(minimum Rs.1500) | 0.50%(minimum Rs.1500) |
Issuance of Duplicate Repayment Schedule Charges | Above Rs.350 | Above Rs.350 |
Foreclosure Charges | Nil | Nil |
Penal Interest | 2% per month | 2% per month |
Part Payment charges | 5% of the paid amount | 5% of the paid amount |
Cheque/Instrument Swap Charge | Above Rs.350 | Above Rs.350 |
Documentation Charge | Above Rs.350 | Above Rs.350 |
Issuance of Duplicate No Dues Certificate Charges | Above Rs.350 | Above Rs.350 |
Registration Certification Collection Charge | Above Rs.150 | Above Rs.150 |
Cheque Bounce/Instrument Return Charges | Above Rs.350 | Above Rs.350 |
Issuance of Duplicate Statement Charges | Above Rs.350 | Above Rs.350 |
Loan Cancellation/Re-booking Charges | Nil | Nil |
Issuance of Credit Report | Above Rs.50 | Above Rs.50 |
Standard Chartered Bank Car Loan Documents Required
Salaried Individual
Category | Documents Required |
Identity Proof | Voter ID Aadhar Card Passport |
Address Proof | Driving License Passport Electricity Bill |
Date of Birth Proof | Birth Certificate Passport Driving License PAN |
Signature Proof | PAN Card Bankers Verification Passport |
Income Proof | Latest Form 16 and Salary Slips |
Bank Statement | Bank statement of last three months |
Employment Continuity Proof | ITR of Form 16 Salary Slip with Joining Date Work Experience Certificate Appointment Letter |
Self-Employed Individuals
Category | Documents Required |
Identity Proof | Aadhar card PAN Card Driving License |
Address Proof | Driving License Aadhaar Card Voter ID Utility Bills |
Date of Birth Proof | Birth Certificate Passport Driving License High School Marksheet |
Signature Proof | Passport PAN Bankers verification |
Income Proof | Latest Form 16 and Salary Slips |
Bank Statement | Bank statement of last three months |
Employment Continuity Proof | Current Account Statement SSI or MSME Registration Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
Business Proof | Telephone Bill Electricity Bill Current Account Statement Sales Tax or VAT Certificate Registered Lease Document with other utility bills Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
Partnership Firms/Societies
Category | Documents Required |
Identity Proof | Driving License Aadhaar Card Passport PAN Voter ID |
Address Proof | Driving License Aadhaar Card Passport PAN Voter ID |
Income Proof | Audited Balance Sheet P&L Account and ITR for the previous two years |
Bank Statement | Bank statement of last three months |
Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
Additional documents | Authority Letter/PAN cards |
Private Limited/Limited Companies
Category | Documents Required |
Identity Proof | Copy of Latest AOA, Incorporation and MOA |
Address Proof | Current Account Statement Shop & Establishment Act Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills SSI or MSME Registration Certificate Telephone Bill Electricity Bill |
Income Proof | Audited Balance sheet, P&L Account and Filed ITR, Previous three months bank statement |
Business Continuity Proof | SSI or MSME Registration Certificate Sales Tax or VAT Certificate Shop & Establishment Act Certificate Current Account Statement |
Additional documents |
PAN Card
Board Resolution List of Directors and Shareholding Partners Certificate of Commencement of Business for Ltd. Co. |
How to Increase Your Eligibility for Standard Chartered Bank Car Loan
- Opt for a shorter tenure – When you opt for a shorter term to repay the money, the EMI that you will pay each month will be higher. This will indicate your higher repayment capacity which will build a sense of confidence in you. So, if you wish to boost your eligibility for a car loan, you can opt for a shorter repayment tenure.
- Keep your credit score in check – If you wish to increase your eligibility for an HDFC Bank car loan, ensure that you have a credit score of over 750. You can use the Free Credit Score tool to check and maintain such a healthy credit score. Checking your credit score regularly will allow you to take corrective measures to improve it if your score is low or if it gives you the confidence to approach the bank if it is high.
- Maintain a low debt-to-income ratio – A low debt-to-income ratio means that you have a good balance between your earnings and your spendings. Before banks decide to lend to you, they will check the percentage of your earnings that goes into paying your debts and a low debt-to-income ratio will indicate your high repayment capacity. To enhance your eligibility for a car loan, you should ensure that you maintain a low debt-to-income ratio.
- Apply for a loan for a lower amount – By applying for a loan for a lower amount, you can increase your eligibility for an HDFC Bank car loan. A lower loan amount means that the loan will be repaid faster. Therefore, the chances of you being eligible for a loan are higher.
Factors Affecting Standard Chartered Bank Car Loan Eligibility
The eligibility criteria for a car loan will depend on the below-given factors:
- Income – If your income is on the higher side, there is a good chance that your eligibility for an HDFC Bank car loan will be higher. This is because a higher income indicates a higher repayment capacity. To be eligible for an HDFC Bank car loan, your yearly income should be at least Rs.3 lakh.
- Loan amount – Your eligibility for a car loan from HDFC will be higher if you apply for a lower loan amount as if the loan amount is lower, the bank knows that the loan will be paid off quicker. Hence, they will be more confident to give you the loan.
- Repayment tenure – Choosing a longer repayment tenure can decrease your eligibility for a car loan. It might give an impression to the bank that you do not possess the ability to pay the loan. This is because longer repayment tenure results in lower EMIs and the lender will think that you cannot afford to pay higher EMIs. Therefore, the bank may be reluctant to lend to you.
- Credit score – This is an important factor that every bank, including HDFC Bank, considers when finding out your eligibility for a car loan. A credit score of 750 and above is considered to be a healthy credit score by most lenders. If you have a healthy credit score, banks will be happy to offer you a car loan and your eligibility will be much higher.
- Relationship with the bank – As stated earlier, HDFC Bank offers instant car loans to their existing customers through the feature which allows HDFC Bank customers to can avail themselves of loans instantly, at their convenience, with very few documents required for a car loan. This indicates that your relationship with the bank is an important factor while determining your eligibility.
Standard Chartered Bank Car Loan Customer Care – Toll-Free Number
HDFC Bank 24*7 customer care toll-free number all your general enquiries is For Ahmedabad / Bangalore / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune dial 1800 425 1000. For Chandigarh / Cochin / Indore / Jaipur / Lucknow dial 1800 425 1000.
Standard Chartered Bank Car Loan EMI Calculator
The applicant can calculate its EMI on the Car Loan before even availing it by following the address below:
Standard Chartered Bank Car Loan Types
There’s a long list of Car Loan Products provided by Standard Chartered Bank Car Loan. Choose among them according to your desires. Lit of Car Loan provided by Standard Chartered Bank Car Loan:
Standard Chartered Bank Car Loan offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:
- New Car Loan – Applicants looking to buy a new car can go for this. You can get a car loan for a minimum amount of Rs. 1 lakh and tenure up to 7 years.
- Used Car Loan – Individuals wanting to buy used cars can avail Used Car loan with a minimum amount of Rs. 1 Lakh and a tenure of 5 years.
- Loan Against Car – Applicants with the urgency of funds can go for this loan by providing their car as a gauge and getting a loan amount against it.
Standard Chartered Bank Car Loan Pre Calculated EMI
Loan Amount
2 Years
3 Years
5 Years
7 Years
1 Lakh
₹ 4,480
₹ 3,090
₹ 1,982
₹ 1,512
3 Lakh
₹ 13,439
₹ 9,270
₹ 5,947
₹ 4,535
5 Lakh
₹ 22,398
₹ 15,450
₹ 9,912
₹ 7,559
10 Lakh
₹ 44,795
₹ 30,900
₹ 19,825
₹ 15,117
Tips to Decide the Right Amount of EMI in Car Loan
Car Loan EMI Changes in Case of Pre-payment
In case you prepay your vehicle loan, I issued a small penalty. Prepayment in HDFC Bank is 5% from 13-24 months, 3% after 24 months. When you prepay, the outstanding balance on your vehicle loan reduces. HDFC Bank gives you two options:
How to Calculate Chhattisgarh Rajya Gramin Bank Car Loan EMI
Before you avail of a car loan from HDFC Bank, you may want to know how much amount you will be paying every month. This is simply known as EMIs or equated monthly installments and it offers an easy way to repay your car loan. By calculating the EMI, you will be able to budget your monthly expenses better.
You can calculate the EMI for your car loan by using the below-given formula:
E = P*r*[(1+r) ^n/((1+r) ^n-1)]
In the above formula, E is the EMI, P the principal amount, r the interest rate, and n the number of years or tenure of the loan.
You can also calculate the EMI by using the EMI Calculator tool wherein you just need to enter the loan amount, interest rate, repayment tenure, processing fee, etc. The tool will calculate the EMI and display it to you.
How to Apply for Standard Chartered Bank Car Loan?
- Reach out to Dialabank at https://dialabank.com and provide the information asked on the form.
- Our Relationship Manager will contact you shortly to guide you through the Prathama Bank Car Loan process.
- Compare and select from various options available.
- Applying for a Car Loan with Dialabank helps you avail of the various offers.
Standard Chartered Bank Car Loan for Top Selling Cars
Compare HDFC Car Loan With Other Banks In India
Car loan Banks | Interest Rates |
EMI per Rs 1 lakh for 7 Years
|
Bank Of Baroda Car Loan | 8.80% – 10.55% |
Rs. 1,599 – Rs. 1,689
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Canara Bank Car Loan | 8.70% – 9.35% |
Rs. 1,594 – Rs. 1,627
|
Corporation Bank Car Loan | 8.75% – 9.50% |
Rs. 1,596 – Rs. 1,634
|
HDFC Bank Car Loan | 7.05% – 11.25% |
Rs. 1,512 – Rs. 1,725
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Private Bank Car Loan | 8.82% – 12.75% |
Rs. 1,600 – Rs. 1,806
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Union Bank Car Loan | 8.85% – 11.85% |
Rs. 1,601 – Rs. 1,757
|
SBI Car Loan | 8.65% – 9.70% |
Rs. 1,609 – Rs. 1,645
|
What is Standard Chartered Bank Car Loan?
Standard Chartered Bank Car Loan is a secured loan provided by the Bank to applicants looking to allocate funds for buying a new or used car.
FAQ Standard Chartered Bank Car Loan
✅ How can I get a Car Loan from Standard Chartered Bank Car Loan?
Standard Chartered Bank Car Loan can be availed by applying directly through Dialabank or reaching out to the nearest branch of the Bank.
✅ How does Standard Chartered Bank Car Loan work?
Working on Standard Chartered Bank Car Loan is pretty simple as it involves allocating funds to its customers willing to buy a car and keeping the same as collateral. The rate of Interest is charged against the loan and is repaid in burdenless EMIs.
✅ What is the Car Loan Interest Rate in Standard Chartered Bank Car Loan?
Car Loan Interest Rate in Standard Chartered Bank Car Loan is as low as
7.35% per annum
.✅ How to Check Car Loan status in Standard Chartered Bank Car Loan?
Check car Loan status in Standard Chartered Bank Car Loan directly by reaching out to the Bank’s website and providing your Loan number on the Loan Status page.
✅ How to Calculate Car Loan Interest in Standard Chartered Bank Car Loan?
Calculate Car Loan Interest in Standard Chartered Bank Car Loan by using Dialabank’s Calculator. This Calculator provides information about the EMI and Interest of your Loan.
✅ What is the maximum loan amount I can avail myself of on a Car Loan from Standard Chartered Bank Car Loan?
Car Loan from Standard Chartered Bank Car Loan can avail you of up to 100% amount of the ex-showroom price of the vehicle.
✅ What is the loan tenure of Standard Chartered Bank Car Loan?
Prathama Bank Car Loan Tenure range between 12 to 84 months.
✅ Can I get a 100% Car Loan from Standard Chartered Bank?
Yes, a 100% car loan from Standard Chartered Bank Car Loan can be provided on the Ex-showroom price of the car.
✅ How much Processing Fee is applicable on Standard Chartered Bank Car Loan?
Processing Fees of 0.50% or a minimum of Rs.1500 is applicable on Standard Chartered Bank Car Loan.
✅ What are the EMI options available on Standard Chartered Bank Car Loan?
EMI options of Step-up EMI and Balloon EMI are available with Standard Chartered Bank Car Loan.
✅ What are the charges for Prepayment in Standard Chartered Bank Car Loan?
There are NO charges for Prepayment in Standard Chartered Bank Car Loan.
✅ Can I get a top-up loan on my existing Standard Chartered Bank Car Loan?
Top-up Loan on Existing Standard Chartered Bank Car Loan can only be availed under particular circumstances.
✅ Do I need to provide a guarantor to avail myself of a Car Loan from Prathama Bank Car Loan?
A guarantor is not needed to avail of a Car Loan from Standard Chartered Bank Car Loan.
✅ How to get a Standard Chartered Bank Car Loan Statement?
Standard Chartered Bank Car Loan Statement is readily available on the Bank’s website and can be availed by providing the Loan Details.
✅ How to Pay Standard Chartered Bank Car Loan Interest Online?
Pay Standard Chartered Bank Car Loan Interest Online through Bank’s Payment gateways using your Net Banking.
✅ What if I can’t pay the interest on Standard Chartered Bank Car Loan for 3 months?
Bank has the right to seize the vehicle or charge a nominal penalty for not paying Standard Chartered Bank Car Loan EMI for 3 Months.
✅ How can I apply for EMI Moratorium on Standard Chartered Bank Car Loan?
EMI Moratorium on Standard Chartered Bank Car Loan can be requested directly with the Bank.
✅ What is the number for Standard Chartered Bank Car Loan agent?
9878981166 is the number for Standard Chartered Bank’s most valuable Car Loan Agent, i.e. Dialabank.
✅ Can I close Standard Chartered Bank Car Loan online?
Standard Chartered Bank Car Loan cannot be closed online; an Applicant has to reach the branch for the closure process.
✅ What is Standard Chartered Bank Car Loan Customer Care Number?
9878981166 is the number for all the queries related to Standard Chartered Bank Car Loan.
✅ How can I get NOC from Standard Chartered Bank Car Loan?
NOC from Standard Chartered Bank Car Loan can be availed after completing the foreclosure process.
✅ What is the Standard Chartered Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Standard Chartered Bank Car Loan account.
- Pay the pre-closure charges as per Standard Chartered Bank Car Loan.
✅ What are the Standard Chartered Bank Car Loan preclosure charges?
Standard Chartered Bank Car Loan preclosure charges are zero.
✅ What is the Standard Chartered Bank Car Loan maximum tenure?
The Standard Chartered Bank Car Loan’s maximum tenure is 7 years.
✅ What is the Standard Chartered Bank Car Loan minimum tenure?
The Standard Chartered Bank Car Loan minimum tenure is 1 year.